Bandhan Bank Car Loan Interest Rates

Bandhan Bank offers car loans for new as well as used cars at attractive interest rates starting from 9.47% p.a. Up to 90% of the on-road price of the car may be provided as a loan. The process to apply for a loan is simple and can be completed online.  

Car Loan Interest Rates

The interest rates for different car loans are mentioned in the table below:

Type of Car Loan

Interest Rate

New Car

  1. More than 3 years: 9.47% p.a.
  2. Up to 3 years: 11.92% p.a.

Used Car

11.89% p.a.

Feature of Bandhan Bank Car Loan

The main features of the car loan offered by Bandhan Bank are mentioned below:

Bandhan Car Loan
  1. The documentation process is simple.
  1. Up to 90% of the on-road price of the car may be provided as a loan.
  1. The repayment tenure is up to 84 months.
  1. The loan amount ranges between Rs.1 lakh and Rs.1 crore.
  1. You can apply for a loan online.

Documents Required

The documents that must be submitted when you apply for a car loan from Bandhan Bank are mentioned below:

  1. Bank account statement.
  1. Proof of income.
  1. The vehicle’s pro forma invoice.
  1. Proof of address.
  1. Proof of identity.

Process to Apply for a Bandhan Bank Car Loan

The procedure that must be followed to apply for a car loan from Bandhan Bank is mentioned below:

  1. Visit https://bandhanbank.com/personal/loan/car-loan#rctabfour.
  1. Click on ‘Apply Now’.
  1. Enter your name, email ID, mobile number, pincode, and city.
  1. Agree to the terms and conditions and click on ‘Submit’.
  1. A Bandhan Bank representative will contact you to process the request.

Eligibility Criteria for Bandhan Bank Car Loan

The eligibility criteria that must be met in order to avail a car loan from Bandhan Bank are mentioned below:

  1. Non-individual entities, self-employed non-professionals, self-employed professionals, and salaried employees can avail the loan.
  1. Minimum Age:

o        Self-Employed Individuals: 23 years

o        Salaried Employees: 21 years

Schedule of Charges

The different charges that are levied in case you avail a car loan from Bandhan Bank are mentioned below:

The different charges that are levied in case you avail a car loan from Bandhan Bank are mentioned below:

Category

Charges

Processing Fee

Up to 4% of the loan amount

Legal Charges

At Actuals

Loan Cancellation Charges

Up to Rs.4,500

Statement of Accounts

Rs.500

Pre-closure Charges

  1. Fixed Loans: 4% of the principal that is outstanding        
  2. Floating Loans: Nil

Part Payment

Fixed Loans

  1. Part payment is allowed after the first six months.
  2. Part payment is allowed once a year.
  3. Part payment should not be more than 25% of the principal that is outstanding.
  4. In case it is more than 25%, 4% will be levied on the amount that is more than 25% of the principal that is outstanding.

Floating Loan Nil

Bounce Charges

Rs.500 for every instance

Stamp Duty Charges

At Actuals

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